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Impact of the New Deal

Impact of the New Deal. Did the New Deal Meet It’s Goals?. Relief- put billions of dollars in Americans pockets with direct relief Recovery – Did not help the economy recover for the long term Had immediate upturn that was wiped away by recession in 37-38

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Impact of the New Deal

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  1. Impact of the New Deal

  2. Did the New Deal Meet It’s Goals? • Relief- put billions of dollars in Americans pockets with direct relief • Recovery – Did not help the economy recover for the long term • Had immediate upturn that was wiped away by recession in 37-38 • Still 10 million workers unemployed in 1939 • Reform – successful and long lasting reforms of economy • FDIC (federal depositors insurance corporation)– restored public confidence in banking system • SEC (Securities Exchange Commission) – helped restore confidence in stock market

  3. New Deal Winding Down • Republicans and Southern Democrats in Congress became strong enough to stop some of the legislation proposed by Roosevelt • The only major program passed in 1938 was the Fair Labor Standards Act • Set a minimum wage and maximum work hours to 44 hours • Required that workers receive time and a half for overtime

  4. Impact of Federal Government • Established a bigger government that was more actively involved in citizen’s lives • Government now provided safety net for American’s - protect against economic disaster

  5. Programs Still Around Today • FDIC – insures bank deposits up to 250,000 • Social Security – old age, unemployment insurance, and disability insurance • SEC – regulates and polices the stock market • TVA – provides electrical power to 8 mill customers • Federal Housing Authority – insures mortgage loans, assists low-income renters, and fights housing discrimination • Housing and Urban development (HUD)

  6. 1938 Congressional Elections • Roosevelt campaigned hard to get Congressional leaders that backed his ideas in office – attempted to overthrow the incumbents that were unsupportive • His plan backfired and in all elections the candidate he promoted lost • After elections, there was less support for the New Deal programs and attention began to turn to the crisis in Europe • At the end of the decade, Americans went to work in factories making goods for war that were being ‘lent’ to Allied powers

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